Terms Beginning With 'n'

No Liability Company

  • January 22, 2020
  • Team Kalkine

No Liability Company is a LLP (limited liability public) company with sole interests of exploration in Oil and mining sectors.

In Australia, under the Corporations Act 2001, a company can be listed as a No liability company, only if all the following conditions are met-

  • Constitution of the company states the primary purpose as mining,
  • The Company holds a share capital, and
  • No rights held to recover calls made by a stockholder in case they fail to pay.

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